2. Car Title Loans are More Expensive Than Other Kinds of Loan

Car title loans usually carry significantly higher interest rates than other kinds of credit. The reason for the higher interest rates is that the lending institution does not check out the borrower’s credit. They depend entirely on the assessment made of the car’s value. Somebody with a good credit rating should find more favorable loan terms, but a person with a poor credit rating often has little choice.

313533836